Economy News – Baghdad
With inflation rates in Iraq currently reaching 5.5%, and expectations of reaching 6% during the end of the year, the Central Bank announced the launch of financial bonds with the highest annual interest, at 8.5%, as well as deposits in the private banking sector.
According to economist Manar Al-Obeidi, in a post on his Facebook page, the goal of these bonds is to attract and encourage capital outside the banking system through high benefits to enter the banking sector, adding that the annual interest rate announced by the central bank is encouraging for the investor and depositors, for its high content, which is a good return on investment compared to its lack of seriousness.
Al-Obeidi stressed that these bonds are guaranteed by sovereign guarantees for a country that currently has sufficient reserves of money and therefore the risk ratio of these bonds is zero and non-existent, and are purchased through the Iraq Stock Exchange and through market brokers.
Al-Obeidi encouraged buying these bonds and selling them in the future at a higher price, meaning that the investment is not only in the deposit interest but also at the same bond price.
In his publication, Al-Obeidi touched on “the deposit of funds in the private banking sector, explaining that there are 4 to 5 private banks that have the largest share of the market and its financial data, and are considered very excellent and achieve great control in the Iraq market. The decision to choose the bank to place deposits depends on the annual interest rate, the way to benefit from the interest, how to break the deposit, as well as the bank’s financial data and the amount of its presence and spread in Iraq.”
Al-Obeidi concluded his publication by “emphasizing that the success of investment depends on two factors, the first is the amount of profit, the second is the amount of risk, and the owner of the money alone can decide how much is to take in exchange for the profit ratio, stressing that investing in bonds and deposits is a good solution for those who do not want to intervene in the field of investment and its challenges.”
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